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FrankieOne Fraud v2 is now available. This page documents v1 of the Fraud and Activity Monitoring product. For the latest documentation, see Fraud and Transaction Monitoring (v2).

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Core concepts and terminology

This section defines the key terms used throughout the Fraud and Activity Monitoring documentation and explains how each concept maps to the FrankieOne solution.
  • Fraud prevention is a set of activities and processes established by a business to prevent the risk and cost of fraud. In FrankieOne, fraud prevention is delivered through onboarding fraud checks and activity monitoring. See Features for the available checks.
  • Fraud verification is a set of checks performed during customer onboarding to both prevent and detect fraud. It addresses issues such as identity theft, stolen credit card transactions, and account takeovers. In FrankieOne, fraud verification is performed through onboarding fraud checks using email, phone, device, and location signals. See Get started for implementation steps.
  • Fraud monitoring involves continuously monitoring financial transactions and non-financial activities (such as logins and password changes) to detect and mitigate fraud. In FrankieOne, this is delivered through activity monitoring using the OneSDK and the Transaction Monitoring API.
  • AML transaction monitoring is the process of monitoring customer transactions (such as transfers, deposits and withdrawals) to identify suspicious behavior that could indicate money laundering or other financial crime. AML transaction monitoring is governed by country-specific regulations (for example, AUSTRAC in Australia), and identified suspicious activities must be reported to the regulator. In FrankieOne, AML transaction monitoring evaluates fiat and cryptocurrency transactions post-hoc against configurable rulesets.
  • AML name screening involves checking customer personal details against known watchlists (specifically PEP and Sanctions lists) and adverse media to assess the customer’s risk exposure. This check is performed at onboarding and can be repeated periodically. In FrankieOne, AML name screening is part of the KYC product. See the KYC documentation for details.
  • Recipes are a configured set of checks that FrankieOne runs for an entity. See What is a recipe? for details.